Credit Suisse shares have risen in response to reports of State Street acquisition interest
Shares in Credit Suisse (CSGN.S) turned sharply higher in afternoon trade on Wednesday with traders citing an Inside Paradeplatz report saying that U.S-based State Street (STT.N) is planning a takeover bid for the troubled Swiss lender.
Shares in Credit Suisse jumped after a report that said the Swiss bank could be sold to U.S. custodian State Street at a premium of more than 30% to Tuesday’s closing price.
Shares in State Street were down more than 2%, underperforming the wider market. By 1426 GMT, the shares were up 3% after a sudden jump following the report in a Swiss financial blog.
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